Getting Canned Made Andrew Mason $34 Million Richer In A Matter Of Days

Groupon
stock is up 5 percent today, continuing a recover that's restored
pretty much of the losses it incurred since it announced earnings
and fired CEO Andrew
Mason last week.

It turns out that's pretty good for Mason, too.

While Mason only got $378 in severance—six months of his token
$756 annual salary—the stock's recovery has added to his
fortunes,
Shira Ovide points out at the WSJ's Digits blog. He owns
about 7 percent of Groupon, currently worth $246 million—up from
$212 million at the stock's recent low point on the day he was
fired.

So that's a $34 million gain on paper, in a matter of days.

Also add the $31 million he took out in private transactions
before Groupon's 2011 IPO, and Mason has a considerable fortune.

It's a victory for shareholder capitalism. Ultimately, Mason's
motivation wasn't to be CEO—it was to do whatever made his
Groupon shares most valuable. So while he's
clearly sad not to be working at Groupon anymore, as he made
clear in his goodbye note, it may actually be the best outcome
for him.